Third Point’s Dan Loeb has Big Bets on Newly Public Companies. Here are His Top Holdings (CNBC)
Third Point’s Dan Loeb has two new stakes that are top-ten positions for his hedge fund, according to securities filing. Loeb told investors in a letter earlier this month that his flagship fund gained 11% during the first quarter, outperforming the S&P 500. Third Point’s best-performing bets during the period include Upstart Holdings and Intel. The fund revealed its detailed holdings in a quarterly securities filing. Take a look at the top positions for Third Point as of March 31 below.
Ray Dalio: Coping with the Pain of Parenting a Bipolar Child (Financial News)
Billionaire hedge fund boss Ray Dalio isn’t just known for his wily investment strategies. He also counts himself among the business world’s Twitterati. His 675,000 followers on the social media platform receive a daily dose of insightful life advice and thought-provoking philosophy. But beyond that, he’s also now recognised as a senior executive who is unashamedly open about his emotional pain and suffering, sharing his experiences in the hope they help others to deal their own struggles.
ViacomCBS and Baidu Rise as Soros Swoops in Post Archegos (The Street)
ViacomCBS (VIACA), Baidu (BIDU) and Tencent Music Entertainment (TME) shares were all on the rise Monday after billionaire George Soros’ investment firm said it snapped up shares of the companies as well as Discovery (DISCA) – Get Report as they were being sold off during the collapse of Bill Hwang’s Archegos Capital Management. Soros Fund Management bought $194 million of ViacomCBS, Baidu stock valued at $77 million, $46 million of Vipshop Holdings (VIPS) – Get Report and $34 million of Tencent Music Entertainment during the first quarter, according to a 13-F regulatory filing.
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Bitcoin is the ‘Apex Predator’ of Digital Currencies – and Dogecoin May be the Crypto Equivalent of Silver, Hedge Fund Manager Anthony Scaramucci Says (Business Insider)
Anthony Scaramucci, founder of investment firm SkyBridge Capital, defended bitcoin’s decline and said he advises investors to hold some amount of it as it’s the only cryptocurrency that’s achieved “escape velocity.” Although other digital currencies have been gaining in popularity, bitcoin has managed to “maintain its supremacy as the apex predator in digital currency,” he said in a Bloomberg interview.
Pershing Square Tontine Pops as It Hints at Upcoming Deal (InvestorPlace)
After a quiet period, Pershing Square Tontine (NYSE:PSTH) stock sprang back to life. On Wednesday, PSTH stock enjoyed its heaviest single-day trading volume in months. The surge in trading interest came as shares leapt more than 7% to reclaim the $24 mark. Pershing Square Tontine, you’ll recall, is superstar investor Bill Ackman’s entry to the special purpose acquisition company (SPAC) arena. PSTH stock came public last year amid a great deal of fanfare. Shares rallied more than 50%, at one point topping $30. Don’t forget that unlike most SPACs which debut at $10, Tontine came out at $20. In any case, shares had fallen nearly back to that $20 level in recent days as the historic SPAC bust drags on.
Unrecognized Lessons of the Archegos Collapse (Bloomberg)
The recent collapse of Archegos Capital Management revealed underappreciated and deeply embedded risks in the U.S. and global banking systems that need to be addressed more broadly than thus far contemplated. Initial reactions to the failure have understandably focused on the lack of transparency at family office funds such as Archegos. Yet a strong capital requirement that meaningfully limits leverage — known as a supplementary leverage ratio — is also critical to protecting banks against the risks that such investment vehicles present.
Only One of 2020’s Top Five Hedge Funds in the Top Five so Far in 2021 (Hedge Week)
Using data from HFR and Eurekahedge, AlternativeSoft selected five funds with the highest 2020 returns to see if simple momentum has generated strong returns in 2021. The five funds generated returns between 149 per cent and 300 per cent in 2020, with the best performing, SYWLP, returning 300.45 per cent was SYWLP. However, when AlternativeSoft analysed the performance of the same funds in the first quarter of 2021, it found that their momentum were not carried over. SYWLP, for example, has a negative return of 28.47 per cent so far this year, while overall, the top five funds in 2020 generated an average return of 203.81 per cent, the same five funds in Q1 of 2021 generated an average return of 13.26 per cent.
Finding Relative Value in Rates (Hedge Nordic)
Stockholm (HedgeNordic) – The Nordic hedge fund industry has long been known for housing a solid group of fixed-income hedge funds. Seven of the nine nominees in the “Fixed Income” category at the 2020 EuroHedge Awards, which recognizes the best players in the European hedge fund sector, were Nordic hedge funds. Two young relative-value hedge funds – Nordic Rates Opportunity Fund II and European Rates Opportunity Fund – run by Nordea Asset Management’s Copenhagen-based Fixed Income and Covered Bonds team were two of the nominees.
Top Shareholders Offer Support to GSK Following Activist Hedge Fund Investment (CityA.M.)
Several of GlaxoSmithKline’s top shareholders have contacted its chairman to offer support, following concerns activist hedge fund Elliott Management is preparing to push for a shake-up at the group. Shareholders including BlackRock, Dodge & Cox and Royal London are said to have given their support, the Times first reported. The pharma giant has come under pressure since Elliott Management’s investment last month, adding fuel to murmurings from existing and discontented shareholders. Elliott Management, which has assets under management of around £40bn, is known for being an aggressive activist investor.
Insider Trading: May 17, 2021 (BIV.com)
Insider Ross J. Beaty, 10% owner. Company: Amerigo Resources Ltd. (TSX:ARG). Shares owned: 20,055,592. Trade date: Apr 30. Trade total: $3,079,930. Trade: Sale of 2,678,200 shares at a price of $1.15 per share. Insider Andrew Swarthout, director. Company: Sandstorm Gold Ltd. (TSX:SSL). Shares owned: 15,666. Trade date: May 3. Trade total: $325,707. Trade: Sale of 34,000 shares at prices from $9.56 to $9.61 per share.
Last Week’s Notable Insider Buys: Activision, Avis Budget, Energy Transfer And More (Benzinga)
Chief Executive Officer Robert Duggan of Summit Therapeutics Inc (SMMT) bought more than 11.36 million shares, and another executive picked up almost 389,100 shares via trust, all at an offering price of $5.24 apiece. These purchases totaled over $61.59 million altogether and lifted Duggan’s stake to more than 67.66 million shares. The purchase of about 667,980 more PennyMac Financial Services Inc (PFSI) shares last week by a director (and frequent buyer) for $56.84 to $58.86 per share totaled $38.66 million. It also raised that director’s stake to more than 2.17 million shares. Note that the stock ended the week trading at $60.25 a share.
The VP of Medical Affairs of Natus Medical (NASDAQ: NTUS) is Selling Shares (Analyst Ratings)
Yesterday, the VP of Medical Affairs of Natus Medical (NTUS), Dong Chune (Christopher) Chung, sold shares of NTUS for $1.67M. Based on Natus Medical’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $115 million and quarterly net profit of $2.4 million. In comparison, last year the company earned revenue of $109 million and had a GAAP net loss of $3.6 million. The company has a one-year high of $28.88 and a one-year low of $16.38. NTUS’s market cap is $971 million and the company has a P/E ratio of -90.90.
Top Insider Buys Highlight for the Week of May 14 (Guru Focus)
The largest insider buys this week were for Corteva Inc. (CTVA, Financial), Energy Transfer LP (ET, Financial), Elanco Animal Health Inc. (ELAN, Financial) and CenterPoint Energy Inc. (CNP, Financial). Corteva executive vice president bought 2,600 shares. Rajan Gajaria, executive vice president of business platforms, bought 2,600 shares of Corteva (CTVA, Financial) on May 10 for an average price of $49.67. The share price has declined 6.74% since then.
